Category Archives: Workstream Inc. WSTM

Worksteam Incorporated is a business consulting firm that provides products and services designed to maximize the output and production of employees. Their products allow companies to ensure better overall performance and monitor production levels on several levels. The software is excellent for tracking the performance of individuals in the past, present and even their potential future with the company. Workstream is ideal for midsized businesses, but has been proven successful on all magnitudes and sizes of businesses.

The software suite offered by Workstream is a highly configurable solution that can easily be matched to existing systems. This means very little downtime and much less cost incurred to make the software work. The configurability also allows users hundreds of options for every aspect of competency development, success planning and organizational charting. These plans can be designed, exported and implemented in a variety of existing software and can be easily incorporated into sensible business models.

The suite is designed to assist in all aspects of HR, but is actually so good in many cases it can become the HR department of a small to midsized company. Internally, their product line can help management and employees with the monitoring of services including recruitment, performance, compensation, employee development and transition. It can also help track employee competency and rank employees by productivity and goal accomplishments. The software is even capable of tracking the career development of employees and can nominate employees for new positions and eligible promotions for which they should be considered.

Workstream, Inc. (NASDAQ: WSTM) is a leading provider of on-demand compensation, performance and talent management solutions that help companies manage the entire employee lifecycle. The company’s WorkStream Communicator is a state-of-the-art knowledge management system. By utilizing straightforward functionality, the WorkStream Communicator is easy to use and provides an intuitive authoring environment that allows HR professionals to manage and distribute content without the need of expensive IT resources.

In addition to the WorkStream Communicator, the Workstream Competency Manager enables organizations to manage and customize the company’s proprietary human capital content. This solution saves companies time and money by allowing the customization of competencies, roles and job descriptions instead of creating content from scratch.

The WorkStream Competency Manager also offers the ability to edit the 10 interview questions included for each of the 60 behavioral competencies, ensuring that the hiring process focuses on the competencies and behaviors that best predict top performance. With offices across the United States and North America, Workstream’s customers include Chevron, Kaiser Permanente and Wells Fargo.

Workstream, Inc. (NASDAQ: WSTM) is a leading provider of on-demand compensation, performance and talent management solutions that help companies manage the entire employee lifecycle. The company’s TalentCenter provides a unified view of all Workstream products and services offered on a monthly subscription basis under an on-demand software delivery model, allowing companies to build high-performing teams while controlling costs.

Workstream’s technology provides more than 5,000 pages of out-of-the-box HR and benefits related content to help customers get up and running quickly. In addition, this technology can manage multi-lingual content within the Workstream TalentCenter, including support for multi-byte character sets. Adding to the technology’s efficiency and compatibility, the TalentCenter applications leverage a common security and authentication framework and can integrate with multiple ERP systems.

The Workstream TalentCenter also provides a variety of performance-based content, including the Workstream Competency Dictionary that includes more than 9,000 functional competencies, 60 behavioral competencies and over 400 job descriptions and covering most organizations functional areas. With offices across North America, Workstream’s customers include Chevron, Kaiser Permanente and Wells Fargo.

After the markets closed, Workstream announced its preliminary financial results for the fourth quarter and fiscal year ended May 31, 2008. The results are considered preliminary because of an ongoing analysis of the company’s goodwill balances, but do not impact current quarter revenue, EBITDA or cash flow amounts that the company disclosed.

Fourth quarter revenues totaled $7.0 million, up 13.3% from $6.2 million in the previous quarter. Adjusted EBITDA was $0.5 million, compared to ($4.5) million during the third quarter and ($1.3) million during the same period last year. EBITDA per share was $0.01 for the FY Q4 2008 compared to ($0.03) for the fourth quarter of 2007. Annual bookings also saw a considerable increase, amounting to 50% year-over-year.

CEO Steve Purello stated, “Workstream had a solid finish to its fiscal year. As we head into fiscal 2009 we are 100% focused on execution and capitalizing on the momentum we are seeing in our business. I am also committed to attaining profitable growth for Workstream and my goal is to steer the Company towards achieving sustained profitability as quickly as possible while still investing to support our future growth initiatives.”

Worksteam provides products and services for businesses designed to maximize the output and production of their employees. They automate and streamline all HR processes both internally and externally, while helping to meet compliance with many federal regulations. Internally their product line can help management and employees with the monitoring of services including recruitment, performance, compensation, employee development and transition.

Workstream’s full suite of HR solution software was developed with mid-market businesses in mind. The solutions are affordable, yet effective, and can provide the fastest return on investment of any comparable product on the market. This is especially important in a mid-sized business where reduced margins are highly noticeable. The impacts of significant savings to departments, divisions, or across the board are easily and favorably recognized in a mid-sized business.

One of the reasons for such an evident impact is the ease of which the Worksteam software suite can be configured to existing systems. This means very little down time and much fewer costs are incurred to make the software work. Competitors like Halogen and SuccessFactors offer a few useful services to a business, but cannot compete with the comprehensive package offered by Workstream. Some of the World’s leading companies are already using the Workstream product suite, such as: Dell, General Dynamics, Robert Half and GlaxoSmithKline.

In today’s workplace environment, professionals are no longer working decades at one company until they retire. Instead, people are looking at new opportunities to develop their careers to get to the next level. As qualified employees are getting harder to find, companies are looking towards better methods to manage and retain their current workforce. Workstream Inc (WSTM) has developed solutions that allow companies to manage employee lifecycles from recruitment to retirement.

Workstream TalentCenter 7.0 is the company’s latest on-demand compensation, performance, and talent management system. The system utilizes Web 2.0 technology to eliminate the need for extensive training sessions, which improves user acceptance and streamlines transition time. The standard solution is flexible enough to use with any company’s best practices processes, thus eliminating the need for customization.

TalentCenter 7.0 is designed with line-of-sight goals and drill-down dashboards, which ensures the system is strategically aligned with an organization. With the ability to access HR records and analytics information, managers are empowered to make more informed decisions regarding employee deployment, advancement, and career planning.

TalentCenter 7.0 also assists human resources personnel to more effectively manage employee records. The system has built-in tools for managing HR information with point-and-click configuration capabilities that improve the efficiency of the system. Elements such as pay-for-performance, succession planning, and employee development can easily be updated in a single unified view.

Workstream’s solutions allow companies to manage and understand their employees in a more streamlined manner. Human resources will no longer be required to have face-to-face meetings with managers to review candidate paperwork. Discussions between hiring managers and HR can be done via conference call while each accesses the dashboard in the comfort of their own office. This is ideal for large companies and companies with multiple office locations.

Billed as a leading compensation, performance, and talent management solutions provider, Workstream Inc. will be reporting financial results from fiscal 2008’s fourth quarter later this month. The company expects to report between $6.9 and $7.0 million in fourth quarter 2008 revenues. an eleven to thirteen percent increase over the previous quarter. In addition, positive EBITDA (earnings before interest, taxes, depreciation and amortization) are expected to have increased by 109 percent or more.

“Our management team and employees were tasked this quarter with aligning our company’s costs and revenues while still growing bookings”, said Workstream CEO, Steve Purello. “As a result, we expect to announce positive EBITDA before merger costs, and expect to announce adding $2.3 million to our bookings this quarter. This continues to lay the foundation for a strong recurring revenue base.”

The conference call will take place at 5:00pm ET on Thursday, July 24, The call will be accessible to the public by dialing 888-789-9572 (US) or 800-6578-9818 (international) and entering the pass-code 3266283. Replay of the call will be available through August 22 at 800-408-3053, using pass-code 3266283.

Workstream, Inc. offers businesses on-demand compensation, performance and talent management solutions and services that help manage their employees’ entire lifecycles from recruitment to retirement. The Company’s TalentCenter, known as the first “Talent Management 2.0” offering, is a powerful suite of applications that provides a unified view of all Workstream products and services including Recruitment, Performance, Compensation, Development and Transition.

The TalentCenter has built-in support for 10 languages and a number of currencies, making it an effective program throughout the world. The software runs through a Web 2.0 user interface and provides advanced analytics and dashboards while offering new functionality and enhanced usability in a single, on-demand offering. The unparalleled ease of navigation makes the suite highly productive and effortless to use.

The company’s Workstream Professional was developed for mid-sized businesses and features a quick and affordable setup. The software enables businesses to streamline all key HR processes, saving 30-40% when compared to manual processes. Workstream Professional is highly configurable, allowing businesses to custom tailor the software to their unique business needs.

Workstream’s unique on-demand solution delivery model allows businesses to quickly realize a return on their investment, as well as reduce costs and increase productivity. Workstream is the premier provider of enterprise and mid-market talent management solutions, and the only company providing a solution to address the complete employee lifecycle. Because Workstream’s solutions are easy to use and readily accessible, they are an attractive alternative to the multiple, non-integrated enterprise systems required to deliver similar functionality.

Workstream Inc (WSTM), a leading provider of on-demand compensation, performance, and talent management solutions, announced that a major U.S. commercial airline has extended their contract agreement with Workstream. This four-year contract extension specifies that an additional 10,000 employees will enable the airline to continue using Workstream to manage compensation planning.

The airline’s decision to extend their use of Workstream’s compensation planning coincides with recent industry recognition. In a comprehensive study of leading talent management suites, Workstream received top marks for their compensation management capabilities. More information about this achievement can be found by accessing: http://www.workstreaminc.com/company/pr2008/prjan23_08.asp.

Deepak Gupta, CEO of Workstream, commented, “Workstream continues to show its leadership in on-demand talent management through this significant extension of service with one of the top five U.S.-based airlines. The potential for a slowdown in the economy drives the need for organizations to implement improved compensation practices and integrated pay-for-performance processes.”